The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1887-07-22
AuAT1oHAL AFFAIR.

over the doorway of which. just under
the tri-color, may be read in large gold
lettering, '.Mont de Pete" Several
republican guards walk about the large
courts within. and there are other signs
of officialism and that the building in
question is national property. It is,
indeed. the headquarters of the nation
al pawnshop. With US, when an un.
expected crisis in ones financial affairs
leads him temporarily to get rid Of
some Of his personal property, he
alphabetically tells his friends
that he has been to his "un.
ele's." A Frenchman in similar
straits visits his ''aunt," whose real
name throughout France is the '.Mont
de Piete." There are no odious associ
atoms about this National institution
A Frenchman will not stink away
sneakingly to his ''aunt" but when
necessity requires it, will visit her fear.
lessly and openly as he would the Es-
comte de Paris or the Credit Lyonnais.
The Mont de Piete is, indeed, bank
without capital and without dividend.
From the budget Of the Paris institu.
ton for 1877, which the director, NJ.
Edmond Duval. has just placed in the
hands of the Municipal Council, an idea
may be obtained of the amount of bust.
ness done at this bank of piety. The
estimated income is put at $3.50, GIG
francs-about IS, 7S2, 384-and as the
accounts are supposed to do little more
than balance, the expenditure is placed
at several thousand pounds less. A de-
crease in the business done durns
the year is attributed to the
fact that many people of all
professions have been compelled to
leave the city, owing to the depression
Of trade. Connected with the principal
Mont de Piete there arc twenty auxiliary
bureaus throughout the town. and it is
perhaps about the only institution in
Paris which is open all the year round,
fete days included. The director of the
concern is appointed by the Minister Of
the Interior, and the administration Of
the concern is under the Prefect of the
Seine. Eight per cent. is charged as
interest on the articles pledged. This
charge is unquestionably high. but the
expenses it has to meet are considerable.
In irregular pawnshops the percentage
charged sometimes reaches SOL per
cent. The administration Of the Mont
de Piete contemplates reducing the rate.
The money thus acquired goes to pay
the expenses of management. At the
end of a year or fifteen months, if the
pledge does not respond to a com.
munication he receives from the Mont
and renew his pledge. or take
out his property. it is sold.
Within the general administration of
the Mont de Piete there is an army Of
officials called the commissaires
priseurs, who value the property
pledged. During last year there were
1853 sales of unclaimed property which
realized gag, 9S7 francs. The commits
saires priseurs look after these sales.
and their charge is per cent. The
director complains that the charges OF
these commissaires are excessive, and
threatens reforms. Should the pro perry
sold bring moro than it was originally
valued at the owner gets the differ
ence, but he does not lose through
depreciation ofvalue. Articles may be
renewed ad infnitum. At the immense
storehouse in the Ruo des Blancs there
are articles that have been renewed for
over forty years. One antiquated
umbrella has been there since 1928,
during which time its value has been
paid four or five times over in interest.
As different colored ticket is given
each time pledge is renewed. the UNI
brclla has long since exhausted all the
colors Of the rainbow, and on the last
occasion, when the ticket was presented
COR renewal. the Monte de Piete made
a present Of the venerable paraplule
to the proprietor. After all the ex-
penses of the Monte de Piete have been
met, the balance, if any, goes to the
public assistance-thcr relief of the poor.
There are between forty and fifty Monts
de Piete in France, and all are man
aged under the same principle, and are
under the care of the Municipal Com-
ellis. The Paris house wish to have a
capital fund. but the government will
not allow it, The Town of Lille is the
only town which has a fund (the result
Of private donations) for its pawnshop,
and charges no interest for articles less
than thirty francs value. Outside the
national institution pawnbroking is
prohibited in France. A man was re-
Gently caught who carried on q success
full business by buying up tickets, and
he will in due course be punished.
The pawnshop is an ancient institu-
ton. As early as 1898 one was estab-
lished in. Liege. In the year 1862
several establishments called Monti di
Pieta were started in Italy, under the
care and protection of the church, in
opposition to the usury practices of the
Jews, who, even at that remote period.
seemed to have embarked in the old |
clothes and money lending business.
All the early Monts de Piete were con-
nected with churches or hospitals. and
were species of charitable banks |
which charged no interest In 1889
the Lombards began to run pawnshops |
in opposition to the Jews in Lombardy |
and in Holland; but from the presence
OF the Jew and the three brass balls in
the same house it would seem that the
two had amaloamated at some neriOd |